Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2014

TECO Energy reported the following OCI for the three and six months ended June 30, 2014 and 2013, related to changes in the fair value of cash flow hedges and amortization of unrecognized benefit costs associated with the company’s postretirement plans:


Other Comprehensive Income
	Three months ended Jun 30,									Six months ended Jun 30,
(millions)	Gross			Tax			Net			Gross			Tax			Net
2014
Unrealized gain on cash flow hedges	$	0.1		$	0.0		$	0.1		$	0.0		$	0.0		$	0.0
Reclassification from AOCI to net income ⁽¹⁾		0.1			(0.1	)		0.0			0.5			(0.2	)		0.3

Gain on cash flow hedges		0.2			(0.1	)		0.1			0.5			(0.2	)		0.3
Amortization of unrecognized benefit costs ⁽²⁾		0.8			(0.3	)		0.5			1.6			(0.6	)		1.0
Increase in unrecognized postemployment costs⁽³⁾		0.0			0.0			0.0			(12.9	)		4.7			(8.2	)

Total other comprehensive income (loss)	$	1.0		($	0.4	)	$	0.6		($	10.8	)	$	3.9		($	6.9	)

2013
Unrealized loss on cash flow hedges	($	0.7	)	$	0.3		($	0.4	)	($	0.4	)	$	0.2		($	0.2	)
Reclassification from AOCI to net income ⁽¹⁾		0.5			(0.2	)		0.3			0.8			(0.3	)		0.5

(Loss) Gain on cash flow hedges		(0.2	)		0.1			(0.1	)		0.4			(0.1	)		0.3
Amortization of unrecognized benefit costs ⁽²⁾		1.1			(0.4	)		0.7			2.2			(0.8	)		1.4

Total other comprehensive income	$	0.9		($	0.3	)	$	0.6		$	2.6		($	0.9	)	$	1.7

(1)	Related to interest rate contracts recognized in Interest expense and commodity contracts recognized in Mining related costs.

(2)	Related to postretirement and postemployment benefits. See Note 5 for additional information.

(3)	Amount reflects an out-of-period adjustment to TECO Coal’s unfunded black lung liability.

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss
(millions)	Jun 30, 2014			Dec 31, 2013
Unrecognized pension loss and prior service credit ⁽¹⁾	($	19.7	)	($	20.5	)
Unrecognized other benefit loss, prior service cost and transition obligation ⁽²⁾		7.1			15.1
Net unrealized losses from cash flow hedges ⁽³⁾		(7.5	)		(7.8	)

Total accumulated other comprehensive loss	($	20.1	)	($	13.2	)

(1)	Net of tax benefit of $12.1 million and $12.6 million as of June 30, 2014 and Dec. 31, 2013, respectively.

(2)	Net of tax expense of $4.4 million and $9.1 million as of June 30, 2014 and Dec. 31, 2013, respectively.

(3)	Net of tax benefit of $4.7 million and $4.9 million as of June 30, 2014 and Dec. 31, 2013, respectively.

Tampa Electric Company [Member]

Other Comprehensive Income

Other Comprehensive Income	Three months ended June 30,							Six months ended June 30,
(millions)	Gross		Tax			Net		Gross		Tax			Net
2014
Unrealized loss on cash flow hedges	$	0.0	$	0.0		$	0.0	$	0.0	$	0.0		$	0.0
Reclassification from AOCI to net income		0.0		0.0			0.0		0.4		(0.2	)		0.2

Gain on cash flow hedges		0.0		0.0			0.0		0.4		(0.2	)		0.2

Total other comprehensive income	$	0.0	$	0.0		$	0.0	$	0.4	($	0.2	)	$	0.2

2013
Unrealized loss on cash flow hedges	$	0.0	$	0.0		$	0.0	$	0.0	$	0.0		$	0.0
Reclassification from AOCI to net income		0.4		(0.2	)		0.2		0.7		(0.3	)		0.4

Gain on cash flow hedges		0.4		(0.2	)		0.2		0.7		(0.3	)		0.4

Total other comprehensive income	$	0.4	($	0.2	)	$	0.2	$	0.7	($	0.3	)	$	0.4

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss
(millions)	Jun 30, 2014			Dec 31, 2013
Net unrealized losses from cash flow hedges ⁽¹⁾	($	7.6	)	($	7.8	)

Total accumulated other comprehensive loss	($	7.6	)	($	7.8	)

(1)	Net of tax benefit of $4.7 million and $4.9 million as of June 30, 2014 and Dec. 31, 2013, respectively.